Planning approval for a Redcar racecourse scheme has been hailed as a "major step forward".

Neil Etherington, chief executive of Redcar Racecourse Ltd, said the decision by Redcar and Cleveland Council to approve plans for the realignment of the track, and grant outline approval for up to 100 high quality apartments on a three-acre area of the course, was a real boost for Redcar.

Under the plans, the bend at the northern end of the course will be realigned to release the land for housing.

It is hoped the new-look track will open for the start of next season.

Mr Etherington called the planning approval "a major step forward in ensuring we are able exploit the full potential of our assets - as well as securing and enhancing the quality of our racing".

The track will host this year's prestigious William Hill Lincoln Handicap on Saturday and bosses hope it will bring thousands of racegoers to the course for the first time.

Mr Etherington added: "These plans are particularly important because they will mean we can use the money we hope to raise from the sale of the land for housing - we anticipate up to £3m - to go directly back into the business, whether for improving the course and facilities or increasing the prize money.

"It will help us develop the racecourse as a centre for a variety of uses, such as conferences and weddings.

"We see this as good news for the entire Redcar community, enhancing what is, without doubt, the town's most high profile asset and helping increase the 70,000 visitors a year."